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Why Trade Deficits Aren’t So Bad

We’re better off with trade deficits than imposing tariffs and restrictive policies to prevent them.

Most Americans seem to think international trade deficits are a bad thing. A March poll, for example, showed that more than two-thirds think the U.S. should take steps to reduce the trade deficit with China, even if a resulting trade war drives up consumer prices. That’s in large part because of the notion expressed by […]